All Employee Benefits articles in Web Issue – Page 475
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Article
Legal and General: A third of group income protection claims are for mental health issues
One-third (31%) of the group income protection (GIP) claims received by Legal and General since 2000 were for mental health issues.Its figures have found that the proportion of mental health claims is increasing, up by 6% since 2005, from 25% to 31%.In the finance and insurance sectors, 44% of claims ...
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Analysis
New model emerges for private medical insurance
If you read nothing else, read this ...Many conditions that used to require inpatient stays now only require day-case or outpatient treatment.Some experts see insurers providing company-paid cover for outpatient and day-case treatment, but inpatient cover as an employee-paid option.No PMI insurers formally offer this yet, but Cigna HealthCare has ...
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Article
Harveys switches fleet supplier following review
Furniture specialist Harveys has switched from a multi-supplier to a sole-supplier approach in the provision of around 140 contract-hire cars for its staff.Harveys, part of the Steinhoff UK retail group which also owns Cargo, Reid Furniture and Sleepmasters, has signed a five-year agreement with Leasedrive after a review, choosing a ...
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Article
62% of employers are unaware of RDR
Only 38% of employers are aware of the retail distribution review (RDR), coming at the end of 2012, which will change the way financial advisers are paid.The Close Brothers’ Employee benefits solution research found that 78% of respondents said their organisation’s financial adviser will be affected by the changes, while ...
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Analysis
International reward: Tax-efficient benefits across Europe
If you read nothing else, read this …Understanding local regulations and culture is key to knowing which employee benefits can be offered in the most tax-efficient way and be of most value to staff.Multinational organisations often find sharesave schemes work well as a tax-efficient benefit across Europe.Economic uncertainty across Europe ...
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Analysis
How many staff will opt out after pensions auto-enrolment?
If you read nothing else, read this ...Every employer must be ready for auto-enrolment, so start planning early. What is the corporate strategy? They should work out how much they want to achieve and can afford.Know the workforce – segment them and consider how they may react. The closer to ...
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Analysis
News analysis: New year rings in legislative changes
Pensions, healthcare and group risk benefits will be affected significantly by a raft of legislative developments this year, says Nicola SullivanSeveral legislative developments affecting employers’ reward packages will hit the headlines in 2012. These relate to six key areas covering pensions, healthcare and group risk benefits.First up is the retail ...
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Case Studies
Case study: Cisco ring-fences engagement around Olympics
Cisco, the official network infrastructure provider for London 2012, has created an employee engagement programme that covers four areas – fun, pride, health and wellbeing, and global awareness – known as the Olympic Rings.The four rings will comprise 12 initiatives, which are open to Cisco’s 2,500 staff in the UK ...
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Article
EXCLUSIVE: Bank of Tokyo-Mitsubishi role for Vicky Rose
?Bank of Tokyo-Mitsubishi has appointed Vicky Rose assistant vice-president, compensation and benefits.Her responsibilities will include pensions, flexible benefits, and management of the HR, compensation and benefits team.For the past year, Rose has been reward manager at Inmarsat. She was previously reward manager at Cardif Pinnacle Insurance, and was responsible for ...
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Article
EXCLUSIVE: Hobbs re-launches voluntary benefits scheme following employee feedback
Hobbs has updated and re-launched its voluntary benefits scheme following an employee feedback survey.The clothing retailer, which has 1,200 employees and 130 stores in the UK, followed the survey with focus groups to find out which benefits staff were most interested in.Sarah Jackson, HR assistant at Hobbs, said: “The reason ...
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Article
EXCLUSIVE: James Verner joins Thomsons Online Benefits
?Thomsons Online Benefits has appointed James Verner enterprise sales director.He is also the co-founder of Curo Compensation with Gerry O’Neill.He has previously worked at Vebnet, 4th Contact and Zurich Financial Services.Read more about careers
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Case Studies
Case study: London Overground on track with Olympic benefits
London Overground Railway Operations, run on behalf of Transport for London, will be heavily affected by the Olympic and Paralympic Games because it runs trains into Stratford.Darren Hockaday, HR director at London Overground, says: “We know there could be 800,000 extra people in London during the Olympics, and 80% of ...
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Analysis
Olympics can kick-start new benefits
If you read nothing else, read this:Employers can motivate and engage employees by aligning benefits and reward strategies with London 2012.They can implement a business plan that allows staff to take holiday or work flexibly.Putting in an office TV or allowing staff to stream events live on their computers is ...
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Article
The Big Question: How can employers motivate staff during gloomy January?
?Breckon Jones, director of benefits, health and wellness, Europe, Middle East and Africa (EMEA) at American Express:?The best thing an employer can do to motivate staff during the gloomy month of January is not to refer to January as a gloomy month.Robert Merton first coined the term ‘self-fulfilling prophecy’ in ...
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Case Studies
Octopus reaches out for bikes for work take-up
?When Lisa Hamill joined marketing and PR company Octopus Group as HR director two years ago, she set out to revive the firm’s salary sacrifice bikes-for-work scheme.The company started promoting the scheme in March 2011 as the weather improved, using its intranet to explain how it worked and outline the ...
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Analysis
Make the most of bikes-for-work schemes
If you read thing else, read this…Bikes-for-work plans have tax and national insurance efficiencies, but take-up can vary between 2% to 20%.Employers can make a scheme more appealing by introducing measures that make it easier to cycle to work, such as bike-parking facilities and onsite showers.Promoting it alongside wider initiatives, ...
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Case Studies
Case study: Sporting challenge is a winner at John Lewis
Chris Husbands is a fitness adviser in the sports department at the Oxford Street branch of John Lewis.Specialising in large fitness equipment, he is part of a team of four who advise customers on fitness and explain how to get the most out of the store’s products.Husbands has been with ...
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Case Studies
Case study: McDonald's staff to serve at Olympic Park
McDonald’s Restaurants is the official restaurant of London 2012 and the presenting partner of its Games Makers volunteer programme.The restaurant chain will have four restaurants in the Olympic Park, staffed by 1,900 employees. To determine which of its 85,000 UK staff will work at the park, McDonald’s held its Olympic ...
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Case Studies
Case study: Mars international pension scheme has DC and DB flavours
Mars, which manufactures brands such as Pedigree, Dove and Snickers, set up an international pension scheme for its globally mobile senior managers in 2008.The scheme, based on a design incorporating both a defined contribution (DC) and defined benefit (DB) pension, is in two parts. Employees put contributions into the DC ...
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Case Studies
Case study: Innospec shares its success globally
Global chemicals business Innospec, which operates in 17 countries, including the US, Germany, France, Spain, Italy and Hungary, offers a sharesave scheme to all eligible staff.The Global All Employee Sharesave Plan, administered by Yorkshire Building Society, was rolled out in 2010 and is designed to take account of different legislation ...